I set out six cautionary lessons for Malaysian companies arising from the Airbus US$4 billion global resolution for bribery involving authorities from the UK, France and the United States.
In the UK, Airbus faced five counts of failure of a commercial organisation to prevent bribery. This was under section 7 of the UK Bribery Act. This section 7 is a similar provision to Malaysia’s section 17A of the Malaysian Anti-Corruption Commission Act, known as the corporate liability provision. I have written about the elements of Malaysia’s corporate liability here.
From the Airbus case study, I set out below six cautionary lessons for Malaysian companies, especially where we are on the brink of seeing the introduction of corporate liability on 1 June 2020. Continue reading →
The main thrust of this Bill is to introduce a new far-reaching corporate liability provision into the MACC Act. There are key changes and steps that companies, and its directors and officers have to be aware of.